BioScale banks $25M to back protein analytics tech
Cambridge, MA-based BioScale, a life sciences toolmaker founded by a trio of MIT professors, has rounded up $25 million in venture funding, with Morningside Venture leading the way as a new investor. Existing investors New Science Ventures, WFD Ventures, F2 Ventures, and several individual investors also chipped in to the round, which will be used to fuel the development and commercialization of its protein analytics technology.
"Morningside's participation, along with the strong support of our existing investors, positions BioScale well for our commercialization phase," said CEO Mark Lundstrom in a statement. "The financing will provide the resources to bring BioScale's ViBE product line into the market and establish BioScale as a leader in protein analytics technology."
"We are excited about the therapeutic and diagnostic potential of protein biomarkers, and feel BioScale's next generation proteomics platform is well-positioned to become a leader in the protein measurement space," remarked Morningside's Isaac Cheng, MD.
The eight-year-old company's ViBE systems enable the detection and quantitation of proteins used in research, clinical, bioprocessing, patient point-of-care and personalized medicine applications.
- check out BioScale's release for more info